First post!
My wife and I currently have about $110,000 entirely in mutual funds (MER about 1.4) in our RRSP's and TFSA's. I'd like to convert these funds plus ongoing monthly contributions (currently $2200/month for RRSP's plus $5000 lump each yearly for TFSA's) into some form of sleepy/couch potato/etc index portfolio.
We are ages 29 and 33 and want to leave this money for retirement - ie. prob 30 years-ish. We're comfortable with fluctuations and are most interested in max long-term return.
1. Initially I was keen on TD Efunds, but with these amounts are we better off with ETF's despite monthly transaction fees?
2. I'm most keen on a diversification between Canadian/US/EAFE/Developing equities (+/- some small percentage of bonds?). Any suggestions on appropriate splits?
3. I'm quite overwhelmed by the number of ETF's available on the different exchanges - mostly I just want appropriate diversification with minimum fees and nothing fancy. Suggestions for specific funds to meet our needs?
4. Best/cheapest discount broker to go with if we do ETF's?
5. Currency hedge part of the portfolio?
6. How often to rebalance ideally?
7. Am I way off base with what i'm trying to do here? Any other major considerations?
Thanks!
My wife and I currently have about $110,000 entirely in mutual funds (MER about 1.4) in our RRSP's and TFSA's. I'd like to convert these funds plus ongoing monthly contributions (currently $2200/month for RRSP's plus $5000 lump each yearly for TFSA's) into some form of sleepy/couch potato/etc index portfolio.
We are ages 29 and 33 and want to leave this money for retirement - ie. prob 30 years-ish. We're comfortable with fluctuations and are most interested in max long-term return.
1. Initially I was keen on TD Efunds, but with these amounts are we better off with ETF's despite monthly transaction fees?
2. I'm most keen on a diversification between Canadian/US/EAFE/Developing equities (+/- some small percentage of bonds?). Any suggestions on appropriate splits?
3. I'm quite overwhelmed by the number of ETF's available on the different exchanges - mostly I just want appropriate diversification with minimum fees and nothing fancy. Suggestions for specific funds to meet our needs?
4. Best/cheapest discount broker to go with if we do ETF's?
5. Currency hedge part of the portfolio?
6. How often to rebalance ideally?
7. Am I way off base with what i'm trying to do here? Any other major considerations?
Thanks!